What is an advantage of an overdraft?

Useful for relatively small sums and short term finance

What is an advantage of an overdraft?

Useful for relatively small sums and short term finance

Which of these facts about venture capital is NOT true?

Venture capitalists usually provide money only and have no interest in running the business

Venture capitalists tend to operate in fairly risky markets

Venture capitalists would be paid a share of the profits

Venture capitalists usually invest large sums of money

Which of the following facts about crowd-sourcing is/are TRUE? (choose as many as apply!)

Can also be an excellent marketing tool for a business

Great way of raising money quickly, esp. for a new business idea

It is a method of internal fund raising

It doesn't matter if the product launched is not successful

Which of the following are DISADVANTAGES of selling shares as a source of funds? (select as many as appropriate)

Does not apply to Partnerships or Sole Traders

Dividends need to be paid to shareholders

It means limited liability for the owners

Large sums of money can be raised

Which of the statements about retained profits is false?

You have unlimited amounts of money available

Shareholders and employees could be frustrated because there is less profit to be 'shared out'

You do not have to pay interest

You are free to use it for any purpose

Which of the following statements about personal sources of finance is false?

Less personal financial risk for the entrepreneur

Less 'red tape' or delay in getting the cash

May be harder to raise large amounts

Which of the following statements about bank loans is not true?

Usually used for large amounts of money that need to be paid back over a longer time-frame

Interest rates make the loan more expensive

Usually cheaper than consistently using a bank overdraft

Which of the following statements about overdrafts is not true?

Cheap - the interest rate is usually lower than that of a long-term bank loan

It's really a small, short term loan

It's flexible, in that it can be used whenever it is needed

Case study: after years of success and growth, Shark Tank success story Lumibowl (a clip-on light that illuminates your toilet bowl so you 'hit your target' in dark of night!) is ready to grow extensively into other countries. It needs huge amounts of money in order to do so. Which source of finance would be a good fit?

Raising share capital by transforming from a partnership to a public corporation

Taking advantage of the agreed overdraft with the bank

SGS Business 1.3.6 Sources of Small Business Finance

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9th - 11th Grade

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Practice Problem

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Medium

Richard Beels

Used 23+ times

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35 questions

Show all answers

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does internal mean?

A source from within the business

A source from outside the business

MULTIPLE CHOICE QUESTION

There will be little or no interest

You can pay in smaller installments

They take a long time to arrange

You don't have to pay it back

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SGS Business 1.3.6 Sources of Small Business Finance

35 questions

What does internal mean?

What does external mean?

Which is an example of an internal source of finance?

Which is an example of an external source of finance?

Which is an example of an external source of finance?

What is an advantage of a bank loan?

What is an advantage of owners' funds?

What is an advantage of an overdraft?

What is an advantage of an overdraft?

What type of finance involves less profit going to the owners?

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